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Emaar Middle East introduces rent with option to buy™ initiative for limited collection of homes

Customers have the opportunity to buy the villas they rent

‘Rent with option to buy’ is applicable for limited number of residences in Al Nada Village in Al Khobar Lakes

Underlines commitment of Emaar Middle East to support customers to meet their home needs

Jeddah, Saudi Arabia; April 06, 2014: Emaar Middle East, a subsidiary of global property developer Emaar Properties, has introduced a new ‘rent with option to buy’ initiative for a selected collection of villas in its Al Khobar Lakes master-planned community, for a limited period of time.

The new initiative enables customers who have a firm interest in owning property to first enter into a rental agreement with Emaar Middle East for a specified period. During the rental period, the customers will only have to pay the rent for their villa, and may opt to purchase the property before the tenancy expires.

Fadi El Borno, Managing Director of Emaar Middle East, Saudi Arabia, said: “The new ‘rent with option to buy’ initiative has been launched as part of our commitment to our valued customers in the Kingdom, who have shown strong interest in purchasing homes within Al Khobar Lakes. Through this initiative, those who are committed to make a property purchase, but would like to extend the time-frame to experience the Emaar lifestyle first hand, will now have the flexibility to exercise the purchase option within a reasonable timeframe.”

El Borno added: “Emaar Middle East aims to offer our valued potential customers an opportunity to live within our established villa community to experience our high quality offerings that include various lifestyle amenities.”

Potential customers can visit the Al Khobar Lakes Sales Centre to register their interest. The initiative is only for a limited time, and for a set number of 3 to 5 bedroom villas with an average size of 458 sq m.

Al Nada Village is the first residential cluster that was handed over in Al Khobar Lakes, the company's premier master-planned community in the Eastern Province. A luxury lakefront development featuring serene water bodies, Al Khobar Lakes is a villa community with retail and leisure amenities that are perfect for family living.